Supreme Tax and Finance

05/22/2023

Watch out for unscrupulous tax preparers and tax fraud promoters. Taxpayers should use only reputable tax professionals and know what is on their tax returns.

05/22/2023

Here's some motivation for your Monday from Supreme Tax and Finance Inc

05/20/2023

Supreme Tax and Finance Inc - Some Saturday business knowledge for our friends and colleagues.

05/19/2023

Maximizing business growth: Breaking things down.

05/19/2023

Some insider tax knowledge from Supreme Tax and Finance Inc.

05/18/2023

YouTube may officially be the second most visited website in existence, but it certainly didn't look destined to achieve that status.

05/18/2023

Using the installment sale method of receiving and reporting the gain from the sale of a capital asset can spread that gain over multiple years, and possibly avoid the higher capital gains rates as well as avoid or minimize the 3.8% surtax on net investment income.

Selling a property one has owned for a long period of time will frequently result in a large capital gain, and reporting all the gain in one year will generally expose the gain to higher-than-normal capital gains rates and subject the gain to the 3.8% surtax on net investment income.

05/17/2023

It matters how you get there. Wednesday Wisdom from Supreme Tax and Finance Inc

05/16/2023

Money raised from online crowdfunding sites for purposes other than business is generally treated as a nontaxable gift if the contribution is made with detached generosity, but this can raise some unexpected gift tax issues. Learn more.

Raising money through Internet crowdfunding sites prompts questions about the taxability of the money raised. Several sites host money-raising projects for fees generally ranging from 5 to 9%, including GoFundMe, Kickstarter, and Indiegogo. Each site specifies its own charges, limitations, and withd...

05/15/2023

The Inflation Reduction Act of 2022 made several changes to the tax credits provided for qualified plug-in electric drive motor vehicles, including adding fuel cell vehicles to the tax credit.

05/15/2023

Additional Considerations About Living Abroad and Paying Taxes. Learn more.

05/15/2023

It's go time! Irving based Supreme Tax and Finance Inc has some motivation for you today.